Articles & Advisories

The Eligibility of a Fiduciary

While deference is accorded to the testator’s selection of a fiduciary, there are circumstances when judicial intervention is required in order to safeguard the interests of the estate and satisfy statutory dictates. Recently, Surrogate’s Courts have had the opportunity to consider this issue, as evidenced by the decisions that follow. Administrator...

Estate Planning for Families with Children Who Have Special Needs

Estate planning for families who have children with special needs is similar to estate planning for families who do not have special needs children. From an estate tax perspective, the considerations do not differ.  The key, however, is to make sure that any funds or other assets put aside for...

New SEQRA Regulations Finally Appear On the Horizon

In September 2012, the New York State Department of Environmental Conservation (“NYSDEC”) proposed the most significant changes to the regulations governing the State Environmental Quality Review Act (“SEQRA”) since the mid-1990s. It accepted comments and the comment period closed. In the years that followed, however, the NYSDEC did not finalize the...

Eligibility of Residential Developments for IDA Benefits

A court decision upholds what has long been understood to be the rule: Residential developments are eligible to receive IDA benefits. It has been nearly 50 years since the New York State Legislature enacted legislation authorizing industrial development agencies (“IDAs”) for the purpose of promoting economic development. Now, towns, cities, and...

Should You Create Trusts for Your Kids?

If your children are under age eighteen, you should have trusts for them in your Wills, in the event you and your spouse should die before all your children reach age 18. If minors receive assets prior to reaching age eighteen, a guardian of the property must be appointed to...

Elder Law/Trusts & Estates: Disposing of Real Property in a Tax-Advantaged Manner

This article is reprinted with permission by the Nassau County Bar Association. Many of our clients are heavily invested in real property. In some cases, this investment may be a single property in a prime location; in others, the client (and maybe his family) is in the business of owning and...

Changing Your “Home” For State Tax Purposes – Not So Easy

It’s February, the middle of winter, and many of us are longing for warmer weather. Some with second homes in Florida or Arizona and the like start thinking about changing their primary residence for state income and estate tax purposes.  Despite “cocktail party talk”, changing your residence for tax purposes...

Snowbird? Or the real deal?

So you recently moved from New York to Florida? Abundant sunshine, no income tax, no estate tax — wonderful! One problem: New York State tax authorities may not think you really moved! And they’re assessing heavy income taxes, interest and penalties for the years you thought you had changed your domicile...

Court Address Key Issues In Business Divorce Cases of 2016

Last year New York courts decided a number of important cases involving business divorce and related litigation between co-owners of closely held companies, highlighted by a pair of Appellate Division, First Department decisions addressing subject-matter jurisdiction over petitions to dissolve foreign entities and shareholder rights to inspect books and records...

Year in Review: Highlights From the Four Appellate Departments

This past year, the appellate courts have addressed a myriad of issues impacting the field of trusts and estates. This month’s column will highlight several of these opinions. Undue Influence In Matter of MacGuigan, 140 A.D.3d 625 (1st Dep’t 2016), the Appellate Division, First Department, affirmed an order of the Surrogate’s Court,...

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